Spinoffs of French tycoon’s media empire make market debut Nexovant
French media tycoon Vincent Bollore is close to far-right French politicians. Photo: Alain JOCARD / AFP/File
Source: AFP
Three spinoffs from French right-wing tycoon Vincent Bollore’s Vivendi media empire debuted on stock markets on Monday, with mixed results as shares in the Canal+ television and film group tanked in London.
Bollore, who has invested heavily in conservative newspapers and TV channels, successfully pushed through the break up of Vivendi, which he believes will increase the overall value of its assets.
Canal+, whose movie studio is behind the “Paddington” film series, fell 15 percent on the London stock exchange in morning deals.
Canal+ chief executive Maxime Saada told the French newspaper Le Figaro that the company’s market debut was not expected to “follow a path paved with roses in the first weeks, the first months”.
“The success of this initial public offering, we will measure it in two to three years,” he said.
The other two spinoffs had a better start: Book publisher Louis Hachette soared 25 percent on the Euronext Growth in Paris while advertising agency Havas was up six percent in Amsterdam.
Read also
Rare foreign-born CEO says Japan needs immigration to thrive
Shares in the remaining Vivendi company, which stayed on the Paris stock exchange, was up in morning deals.
The breakup of Vivendi was approved by 97 percent of shareholders in a vote on December 9.
Bollore, who is close to far-right French politicians, officially “retired” in 2022 at age 70 in order to hand control of his empire to his two sons Yannick and Cyrille, but he is widely thought to continue to exercise control behind the scenes.
After taking over the family-owned business in 1981, the devout Catholic expanded from industrial and plastics activity into infrastructure, notably in west African ports and transport.
He has acquired and then shaken up a number of TV channels, radio stations and newspapers in recent years, installing executives and editors who share his conservative and anti-immigration views despite strikes and objections from journalists.
His increasingly influential 24-hour CNews channel has been compared by some media analysts to Fox News in the United States, with its focus on crime and immigration as well as its often noisy evening talkshow formats.
Read also
Founder of Spain’s Mango clothing chain dies in accident
Forbes estimates his fortune to be around $10 billion.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ️ find the “Recommended for you” block on the home page and enjoy!
Source: AFP
Looking to Invest in Real Estate? Discover Nexovant Today!
Nexovant is Nigeria’s leading real estate platform, offering seamless solutions for property listings, real estate investment, and property management. Whether you’re searching for the best properties in Nigeria, seeking opportunities with our NexoVest real estate investment platform, or exploring innovative tools like Morena AI, Nexovant is your trusted partner in real estate success.
We specialize in:
Real estate investment opportunities in Nigeria.
Affordable property listings for sale and rent.
AI-powered solutions for smarter property searches.
Real estate development and management services.
Join thousands of investors and property owners today. With Nexovant, you can buy, sell, rent, or invest in some of the best real estate in Nigeria.
Explore Nexovant:
📍 Visit us: www.nexovant.com
💡 Learn more about NexoVest: Your gateway to profitable real estate investments.
🌟 Discover Morena AI: Revolutionizing property search and analytics.
Keywords:
Best real estate platform in Nigeria
Real estate investment opportunities in Nigeria
Property for sale and rent in Nigeria
Real estate development and property management
AI in real estate Nigeria
Affordable real estate investments
Top property listing websites in Nigeria
Stay ahead in the real estate market with Nexovant – the future of real estate innovation in Africa.
Source
